| CATEGORY: BROKER RECOMMENDATIONS SECTOR: PHARMACEUTICALS & BIOTECHNOLOGY |
Broker snap: New boss seen boosting GSK |
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Tue 01 Apr 2008
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LONDON (SHARECAST) - ING has begun coverage on drugs giant GlaxoSmithKline with a ‘buy’ rating and a 1,290p price target.
The broker said GSK’s new chief executive Andrew Witty would bring a fresh strategic approach to the company. A focus on healthcare payers’ needs and greater US activity be key trends during his stewardship, ING said.
It added that GSK had several advantages over rivals, including a resilient base business and beneficial shareholder distribution.
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